ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 70055.77 Crore) operating in Financial Services sector.
ICICI Prudential Life Insurance Company key Products/Revenue Segments include Income From Financial Services, Other Operating Revenue for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mr.R K Nair, Mr.Dileep Choksi, Ms.Vibha Paul Rishi, Mr.M S Ramachandran, Mr.N S Kannan, Mr.Anup Bagchi, Mr.Sandeep Batra, Mr.Dilip Karnik, Mr.Benjamin James Bulmer. Company has BSR & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 144 Crore shares outstanding.
Investment Rationale
The brokerage likes the company’s re-engineered business model, focused more on a diversified product and channel mix, and industry-leading share in sum assured (H1FY23: 15.7%), nonetheless it is sceptical about the profitability and sustainability in the group protection business. The brokerage slashes its FY24E/FY25E VNB estimates by 2.7%/5 % to factor in continued uncertainty in the primary banca channel, partly offset by higher VNB margin, and expects VNB to clock a 14% CAGR over FY22-25E.
Promoter/FII Holdings
Promoters held 73.4 per cent stake in the company as of 30-Jun-2022, while FIIs owned 16.13 per cent, DIIs 5.08 per cent.
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